Caleres (CAL) Rating Increased to Hold at Zacks Investment Research

According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “

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Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Monday, April 22nd. TheStreet lowered shares of Caleres from a “b-” rating to a “c” rating in a research report on Friday, March 22nd. ValuEngine lowered shares of Caleres from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Loop Capital raised shares of Caleres from a “hold” rating to a “buy” rating and boosted their price objective for the company from $26.00 to $32.00 in a research report on Wednesday, April 10th. Finally, Wedbush reissued an “outperform” rating on shares of Caleres in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.80.

CAL traded down $0.82 during midday trading on Friday, reaching $22.95. 746,380 shares of the company’s stock were exchanged, compared to its average volume of 491,869. The company has a current ratio of 1.14, a quick ratio of 0.34 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.01 billion, a P/E ratio of 10.38 and a beta of 0.74. Caleres has a 1-year low of $22.85 and a 1-year high of $41.09.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, March 21st. The textile maker reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $720.26 million for the quarter, compared to analyst estimates of $738.12 million. Caleres had a positive return on equity of 13.26% and a negative net margin of 0.19%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. As a group, analysts forecast that Caleres will post 2.52 EPS for the current fiscal year.

In other news, insider Daniel R. Freidman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the insider now owns 74,046 shares of the company’s stock, valued at $2,221,380. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Caleres by 1.1% in the first quarter. BlackRock Inc. now owns 6,305,306 shares of the textile maker’s stock valued at $155,678,000 after buying an additional 65,525 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Caleres by 2.0% in the third quarter. Vanguard Group Inc. now owns 3,975,221 shares of the textile maker’s stock valued at $142,551,000 after buying an additional 78,692 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Caleres by 12.6% in the first quarter. Wellington Management Group LLP now owns 2,413,656 shares of the textile maker’s stock valued at $59,593,000 after buying an additional 270,901 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Caleres by 1.1% in the first quarter. Macquarie Group Ltd. now owns 1,426,237 shares of the textile maker’s stock valued at $35,214,000 after buying an additional 15,732 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Caleres by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,357,860 shares of the textile maker’s stock valued at $37,790,000 after purchasing an additional 69,698 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.